FAIR VALUE MEASUREMENT (Tables)

12 Months Ended

Dec. 31, 2013

Items measured at fair value on a recurring basis

Fair Value Levels

In millions of dollars at December 31, 2013	Level 1(1)		Level 2(1)		Level 3		Gross inventory		Netting(2)			Net balance
Assets
Federal funds sold and securities borrowed or purchased under agreements to resell	$	—	$	172,848	$	3,566	$	176,414	$	(34,933	)	$	141,481
Trading non-derivative assets
Trading mortgage-backed securities
U.S. government-sponsored agency guaranteed	$	—	$	22,861	$	1,094	$	23,955	$	—		$	23,955
Residential	—		1,223		2,854		4,077		—			4,077
Commercial	—		2,318		256		2,574		—			2,574
Total trading mortgage-backed securities	$	—	$	26,402	$	4,204	$	30,606	$	—		$	30,606
U.S. Treasury and federal agency securities	$	12,080	$	2,757	$	—	$	14,837	$	—		$	14,837
State and municipal	—		2,985		222		3,207		—			3,207
Foreign government	49,220		25,220		416		74,856		—			74,856
Corporate	—		28,699		1,835		30,534		—			30,534
Equity securities	58,761		1,958		1,057		61,776		—			61,776
Asset-backed securities	—		1,274		4,342		5,616		—			5,616
Other trading assets	—		8,491		3,184		11,675		—			11,675
Total trading non-derivative assets	$	120,061	$	97,786	$	15,260	$	233,107	$	—		$	233,107
Trading derivatives
Interest rate contracts	$	11	$	624,902	$	3,467	$	628,380
Foreign exchange contracts	40		91,189		1,325		92,554
Equity contracts	5,793		17,611		1,473		24,877
Commodity contracts	506		7,775		801		9,082
Credit derivatives	—		37,336		3,010		40,346
Total trading derivatives	$	6,350	$	778,813	$	10,076	$	795,239
Cash collateral paid(3)							$	6,073
Netting agreements									$	(713,598	)
Netting of cash collateral received									(34,893		)
Total trading derivatives	$	6,350	$	778,813	$	10,076	$	801,312	$	(748,491	)	$	52,821
Investments
Mortgage-backed securities
U.S. government-sponsored agency guaranteed	$	—	$	41,810	$	187	$	41,997	$	—		$	41,997
Residential	—		10,103		102		10,205		—			10,205
Commercial	—		453		—		453		—			453
Total investment mortgage-backed securities	$	—	$	52,366	$	289	$	52,655	$	—		$	52,655
U.S. Treasury and federal agency securities	$	69,139	$	18,449	$	8	$	87,596	$	—		$	87,596
State and municipal	$	—	$	17,297	$	1,643	$	18,940	$	—		$	18,940
Foreign government	35,179		60,948		344		96,471		—			96,471
Corporate	4		10,841		285		11,130		—			11,130
Equity securities	2,583		336		815		3,734		—			3,734
Asset-backed securities	—		13,314		1,960		15,274		—			15,274
Other debt securities	—		661		50		711		—			711
Non-marketable equity securities	—		358		4,347		4,705		—			4,705
Total investments	$	106,905	$	174,570	$	9,741	$	291,216	$	—		$	291,216

In millions of dollars at December 31, 2013	Level 1(1)			Level 2(1)			Level 3			Gross inventory		Netting(2)			Net balance
Loans(4)	$	—		$	886		$	4,143		$	5,029	$	—		$	5,029
Mortgage servicing rights	—			—			2,718			2,718		—			2,718
Non-trading derivatives and other financial assets measured on a recurring basis, gross	$	—		$	9,811		$	181		$	9,992
Cash collateral paid										$	82
Netting of cash collateral received												$	(2,951	)
Non-trading derivatives and other financial assets measured on a recurring basis	$	—		$	9,811		$	181		$	10,074	$	(2,951	)	$	7,123
Total assets	$	233,316		$	1,234,714		$	45,685		$	1,519,870	$	(786,375	)	$	733,495
Total as a percentage of gross assets(5)	15.4		%	81.6		%	3.0		%
Liabilities
Interest-bearing deposits	$	—		$	787		$	890		$	1,677	$	—		$	1,677
Federal funds purchased and securities loaned or sold under agreements to repurchase	$	—		$	85,576		$	902		$	86,478	$	(34,933	)	$	51,545
Trading account liabilities
Securities sold, not yet purchased	51,035			9,883			590			61,508					61,508
Trading derivatives
Interest rate contracts	$	12		$	614,586		$	2,628		$	617,226
Foreign exchange contracts	29			87,978			630			88,637
Equity contracts	5,783			26,178			2,331			34,292
Commodity contracts	363			8,646			1,161			10,170
Credit derivatives	—			37,510			3,284			40,794
Total trading derivatives	$	6,187		$	774,898		$	10,034		$	791,119
Cash collateral received(6)										$	8,827
Netting agreements												$	(713,598	)
Netting of cash collateral paid												(39,094		)
Total trading derivatives	$	6,187		$	774,898		$	10,034		$	799,946	$	(752,692	)	$	47,254
Short-term borrowings	$	—		$	3,663		$	29		$	3,692	$	—		$	3,692
Long-term debt	—			20,080			6,797			26,877		—			26,877
Non-trading derivatives and other financial liabilities measured on a recurring basis, gross	$	—		$	1,719		$	10		$	1,729
Cash collateral received(7)										$	282
Total non-trading derivatives and other financial liabilities measured on a recurring basis	$	—		$	1,719		$	10		$	2,011				$	2,011
Total liabilities	$	57,222		$	896,606		$	19,252		$	982,189	$	(787,625	)	$	194,564
Total as a percentage of gross liabilities(5)	5.9		%	92.1		%	2.0		%

(1) For the year ended December 31, 2013, the Company transferred assets of approximately $2.5 billion from Level 1 to Level 2, primarily related to foreign government securities, which were not traded with sufficient frequency to constitute an active market. During the year ended December 31, 2013, the Company transferred assets of approximately $49.3 billion from Level 2 to Level 1, substantially all related to U.S. Treasury securities held across the Company’s major investment portfolios where Citi obtained additional information from its external pricing sources to meet the criteria for Level 1 classification. During the year ended December 31, 2013, the Company transferred liabilities of $30 million from Level 1 to Level 2, and liabilities of $75 million from Level 2 to Level 1.

(2) Represents netting of: (i) the amounts due under securities purchased under agreements to resell and the amounts owed under securities sold under agreements to repurchase; and (ii) derivative exposures covered by a qualifying master netting agreement and cash collateral offsetting.

(3) This is the net amount of the $45,167 million of gross cash collateral paid, of which $39,094 million was used to offset derivative liabilities.

(4) There is no allowance for loan losses recorded for loans reported at fair value.

(5) Because the amount of the cash collateral received has not been allocated to the Level 1, 2 and 3 subtotals, these percentages are calculated based on total assets and liabilities measured at fair value on a recurring basis, excluding the cash collateral paid/received on derivatives.

(6) This is the net amount of the $43,720 million of gross cash collateral received, of which $34,893 million was used to offset derivative assets.

(7) This is the net amount of the $3,233 million of gross cash collateral received, of which $2,951 million was used to offset derivative assets.

Fair Value Levels

In millions of dollars at December 31, 2012	Level 1(1)		Level 2(1)		Level 3		Gross inventory		Netting(2)			Net balance
Assets
Federal funds sold and securities borrowed or purchased under agreements to resell	$	—	$	198,278	$	5,043	$	203,321	$	(42,732	)	$	160,589
Trading non-derivative assets
Trading mortgage-backed securities
U.S. government-sponsored agency guaranteed	—		29,835		1,325		31,160		—			31,160
Residential	—		1,663		1,805		3,468		—			3,468
Commercial	—		1,322		1,119		2,441		—			2,441
Total trading mortgage-backed securities	$	—	$	32,820	$	4,249	$	37,069	$	—		$	37,069
U.S. Treasury and federal agency securities	$	15,416	$	4,940	$	—	$	20,356	$	—		$	20,356
State and municipal	—		3,611		195		3,806		—			3,806
Foreign government	57,831		31,097		311		89,239		—			89,239
Corporate	—		33,194		2,030		35,224		—			35,224
Equity securities	54,640		2,094		264		56,998		—			56,998
Asset-backed securities	—		899		4,453		5,352		—			5,352
Other trading assets	—		15,944		2,321		18,265		—			18,265
Total trading non-derivative assets	$	127,887	$	124,599	$	13,823	$	266,309	$	—		$	266,309
Trading derivatives
Interest rate contracts	$	2	$	897,635	$	1,710	$	899,347
Foreign exchange contracts	18		75,358		902		76,278
Equity contracts	2,359		14,109		1,741		18,209
Commodity contracts	410		9,752		695		10,857
Credit derivatives	—		49,858		4,166		54,024
Total trading derivatives	$	2,789	$	1,046,712	$	9,214	$	1,058,715
Cash collateral paid(3)							$	5,597
Netting agreements									$	(970,782	)
Netting of cash collateral received									(38,910		)
Total trading derivatives	$	2,789	$	1,046,712	$	9,214	$	1,064,312	$	(1,009,692	)	$	54,620
Investments
Mortgage-backed securities
U.S. government-sponsored agency guaranteed	$	46	$	45,841	$	1,458	$	47,345	$	—		$	47,345
Residential	—		7,472		205		7,677		—			7,677
Commercial	—		449		—		449		—			449
Total investment mortgage-backed securities	$	46	$	53,762	$	1,663	$	55,471	$	—		$	55,471
U.S. Treasury and federal agency securities	$	13,204	$	78,625	$	12	$	91,841	$	—		$	91,841
State and municipal	$	—	$	17,483	$	849	$	18,332	$	—		$	18,332
Foreign government	36,048		57,616		383		94,047		—			94,047
Corporate	—		9,289		385		9,674		—			9,674
Equity securities	4,037		132		773		4,942		—			4,942
Asset-backed securities	—		11,910		2,220		14,130		—			14,130
Other debt securities	—		—		258		258		—			258
Non-marketable equity securities	—		404		5,364		5,768		—			5,768
Total investments	$	53,335	$	229,221	$	11,907	$	294,463	$	—		$	294,463

In millions of dollars at December 31, 2012	Level 1(1)			Level 2(1)			Level 3			Gross inventory		Netting(2)			Net balance
Loans(4)	$	—		$	356		$	4,931		$	5,287	$	—		$	5,287
Mortgage servicing rights	—			—			1,942			1,942		—			1,942
Non-trading derivatives and other financial assets measured on a recurring basis, gross	$	—		$	15,293		$	2,452		$	17,745
Cash collateral paid										$	214
Netting of cash collateral received												$	(4,660	)
Non-trading derivatives and other financial assets measured on a recurring basis	$	—		$	15,293		$	2,452		$	17,959	$	(4,660	)	$	13,299
Total assets	$	184,011		$	1,614,459		$	49,312		$	1,853,593	$	(1,057,084	)	$	796,509
Total as a percentage of gross assets(5)	10.0		%	87.4		%	2.7		%
Liabilities
Interest-bearing deposits	$	—		$	661		$	786		$	1,447	$	—		$	1,447
Federal funds purchased and securities loaned or sold under agreements to repurchase	—			158,580			841			159,421		(42,732		)	116,689
Trading account liabilities
Securities sold, not yet purchased	55,145			8,288			365			63,798					63,798
Trading account derivatives
Interest rate contracts	$	1		$	890,362		$	1,529		$	891,892
Foreign exchange contracts	10			81,137			902			82,049
Equity contracts	2,664			25,986			3,189			31,839
Commodity contracts	317			10,348			1,466			12,131
Credit derivatives	—			47,746			4,508			52,254
Total trading derivatives	$	2,992		$	1,055,579		$	11,594		$	1,070,165
Cash collateral received(6)										$	7,923
Netting agreements												$	(970,782	)
Netting of cash collateral paid												(55,555		)
Total trading derivatives	$	2,992		$	1,055,579		$	11,594		$	1,078,088	$	(1,026,337	)	$	51,751
Short-term borrowings	—			706			112			818		—			818
Long-term debt	—			23,038			6,726			29,764		—			29,764
Non-trading derivatives and other financial liabilities measured on a recurring basis, gross	$	—		$	2,228		$	24		$	2,252
Cash collateral received(7)										$	658
Non-trading derivatives and other financial liabilities measured on a recurring basis	$	—		$	2,228		$	24		$	2,910	$	—		$	2,910
Total liabilities	$	58,137		$	1,249,080		$	20,448		$	1,336,246	$	(1,069,069	)	$	267,177
Total as a percentage of gross liabilities(5)	4.4		%	94.1		%	1.5		%

(1) For the year ended December 31, 2012, the Company transferred assets of $1.7 billion from Level 1 to Level 2, primarily related to foreign government bonds, which were not traded with enough frequency to constitute an active market. During the year ended December 31, 2012, the Company transferred assets of $1.2 billion from Level 2 to Level 1 primarily related to foreign government bonds, which were traded with sufficient frequency to constitute an active market. During the year ended December 31, 2012, the Company transferred liabilities of $70 million from Level 1 to Level 2, and liabilities of $150 million from Level 2 to Level 1.

(3) This is the net amount of the $61,152 million of gross cash collateral paid, of which $55,555 million was used to offset derivative liabilities.

(4) There is no allowance for loan losses recorded for loans reported at fair value.

(6) This is the net amount of the $46,833 million of gross cash collateral received, of which $38,910 million was used to offset derivative assets.

(7) This is the net amount of the $5,318 million of gross cash collateral received, of which $4,660 million was used to offset derivative liabilities.

Changes in level 3 fair value category

				Net realized/unrealized gains (losses) incl. in					Transfers																		Unrealized
In millions of dollars	Dec. 31, 2012			Principal transactions			Other(1)(2)		into Level 3		out of Level 3			Purchases		Issuances		Sales			Settlements			Dec. 31, 2013			gains (losses) still held(3)
Assets
Federal funds sold and securities borrowed or purchased under agreements to resell	$	5,043		$	(137	)	$	—	$	627	$	(1,871	)	$	59	$	—	$	71		$	(226	)	$	3,566		$	(124	)
Trading non-derivative assets
Trading mortgage-backed securities
U.S. government-sponsored agency guaranteed	$	1,325		$	141		$	—	$	1,386	$	(1,477	)	$	1,316	$	68	$	(1,310	)	$	(355	)	$	1,094		$	52
Residential	1,805			474			—		513		(372		)	3,630		—		(3,189		)	(7		)	2,854			10
Commercial	1,119			114			—		278		(304		)	244		—		(1,178		)	(17		)	256			14
Total trading mortgage-backed securities	$	4,249		$	729		$	—	$	2,177	$	(2,153	)	$	5,190	$	68	$	(5,677	)	$	(379	)	$	4,204		$	76
U.S. Treasury and federal agency securities	$	—		$	(1	)	$	—	$	54	$	—		$	—	$	—	$	(53	)	$	—		$	—		$	—
State and municipal	195			37			—		9		—			107		—		(126		)	—			222			15
Foreign government	311			(21		)	—		156		(67		)	326		—		(289		)	—			416			5
Corporate	2,030			(20		)	—		410		(410		)	2,864		—		(2,116		)	(923		)	1,835			(406		)
Equity securities	264			129			—		228		(210		)	829		—		(183		)	—			1,057			59
Asset-backed securities	4,453			544			—		181		(193		)	5,165		—		(5,579		)	(229		)	4,342			123
Other trading assets	2,321			202			—		960		(1,592		)	3,879		—		(2,253		)	(333		)	3,184			(7		)
Total trading non-derivative assets	$	13,823		$	1,599		$	—	$	4,175	$	(4,625	)	$	18,360	$	68	$	(16,276	)	$	(1,864	)	$	15,260		$	(135	)
Trading derivatives, net(4)
Interest rate contracts	181			292			—		692		(226		)	228		—		(155		)	(173		)	839			779
Foreign exchange contracts	—			625			—		29		(35		)	26		—		(10		)	60			695			146
Equity contracts	(1,448		)	96			—		25		295			298		—		(149		)	25			(858		)	(453		)
Commodity contracts	(771		)	296			—		—		46			15		—		(25		)	79			(360		)	384
Credit derivatives	(342		)	(368		)	—		106		(183		)	20		—		—			493			(274		)	(544		)
Total trading derivatives, net(4)	$	(2,380	)	$	941		$	—	$	852	$	(103	)	$	587	$	—	$	(339	)	$	484		$	42		$	312

			Net realized/unrealized gains (losses) incl. in						Transfers																		Unrealized
In millions of dollars	Dec. 31, 2012		Principal transactions			Other(1)(2)			into Level 3		out of Level 3			Purchases			Issuances		Sales			Settlements			Dec. 31, 2013		gains (losses) still held(3)
Investments
Mortgage-backed securities
U.S. government-sponsored agency guaranteed	$	1,458	$	—		$	(7	)	$	2,058	$	(3,820	)	$	593		$	—	$	(38	)	$	(57	)	$	187	$	11
Residential	205		—			30			60		(265		)	212			—		(140		)	—			102		7
Commercial	—		—			—			4		(21		)	17			—		—			—			—		—
Total investment mortgage-backed securities	$	1,663	$	—		$	23		$	2,122	$	(4,106	)	$	822		$	—	$	(178	)	$	(57	)	$	289	$	18
U.S. Treasury and federal agency securities	$	12	$	—		$	—		$	—	$	—		$	—		$	—	$	(4	)	$	—		$	8	$	—
State and municipal	849		—			10			12		(122		)	1,236			—		(217		)	(125		)	1,643		(75		)
Foreign government	383		—			2			178		(256		)	506			—		(391		)	(78		)	344		(28		)
Corporate	385		—			(27		)	334		(119		)	104			—		(303		)	(89		)	285		—
Equity securities	773		—			56			19		(1		)	1			—		(33		)	—			815		47
Asset-backed securities	2,220		—			117			1,192		(1,684		)	1,475			—		(337		)	(1,023		)	1,960		—
Other debt securities	258		—			—			—		(205		)	50			—		(53		)	—			50		—
Non-marketable equity securities	5,364		—			249			—		—			653			—		(342		)	(1,577		)	4,347		241
Total investments	$	11,907	$	—		$	430		$	3,857	$	(6,493	)	$	4,847		$	—	$	(1,858	)	$	(2,949	)	$	9,741	$	203
Loans	$	4,931	$	—		$	(24	)	$	353	$	—		$	179		$	652	$	(192	)	$	(1,756	)	$	4,143	$	(122	)
Mortgage servicing rights	1,942		—			555			—		—			—			634		(2		)	(411		)	2,718		553
Other financial assets measured on a recurring basis	2,452		—			63			1		—			216			474		(2,046		)	(979		)	181		(5		)
Liabilities
Interest-bearing deposits	$	786	$	—		$	(125	)	$	32	$	(21	)	$	—		$	86	$	—		$	(118	)	$	890	$	(41	)
Federal funds purchased and securities loaned or sold under agreements to repurchase	841		91			—			216		(17		)	36			—		40			(123		)	902		50
Trading account liabilities
Securities sold, not yet purchased	365		42			—			89		(52		)	—			—		612			(382		)	590		73
Short-term borrowings	112		53			—			2		(10		)	—			316		—			(338		)	29		(5		)
Long-term debt	6,726		(161		)	153			2,461		(2,531		)	—			1,466		(1		)	(1,332		)	6,797		(55		)
Other financial liabilities measured on a recurring basis	24		—			(215		)	5		(2		)	(5		)	104		—			(331		)	10		(9		)

(1) Changes in fair value for available-for-sale investments are recorded in Accumulated other comprehensive income (loss), unless other-than-temporarily impaired, while gains and losses from sales are recorded in Realized gains (losses) from sales of investments on the Consolidated Statement of Income.

(2) Unrealized gains (losses) on MSRs are recorded in Other revenue on the Consolidated Statement of Income.

(3) Represents the amount of total gains or losses for the period, included in earnings (and Accumulated other comprehensive income (loss) for changes in fair value for available-for-sale investments), attributable to the change in fair value relating to assets and liabilities classified as Level 3 that are still held at December 31, 2013.

(4) Total Level 3 derivative assets and liabilities have been netted in these tables for presentation purposes only.

				Net realized/unrealized gains (losses) incl. in						Transfers																			Unrealized
In millions of dollars	Dec. 31, 2011			Principal transactions			Other(1)(2)			into Level 3			out of Level 3			Purchases		Issuances		Sales			Settlements			Dec. 31, 2012			gains (losses) still held(3)
Assets
Federal funds sold and securities borrowed or purchased under agreements to resell	$	4,701		$	306		$	—		$	540		$	(444	)	$	—	$	—	$	—		$	(60	)	$	5,043		$	317
Trading non-derivative assets
Trading mortgage-backed securities
U.S. government-sponsored agency guaranteed	$	861		$	38		$	—		$	1,294		$	(735	)	$	657	$	79	$	(735	)	$	(134	)	$	1,325		$	(16	)
Residential	1,509			204			—			848			(499		)	1,652		—		(1,897		)	(12		)	1,805			(27		)
Commercial	618			(32		)	—			327			(305		)	1,056		—		(545		)	—			1,119			28
Total trading mortgage-backed securities	$	2,988		$	210		$	—		$	2,469		$	(1,539	)	$	3,365	$	79	$	(3,177	)	$	(146	)	$	4,249		$	(15	)
U.S. Treasury and federal agency securities	$	3		$	—		$	—		$	—		$	—		$	13	$	—	$	(16	)	$	—		$	—		$	—
State and municipal	252			24			—			19			(18		)	61		—		(143		)	—			195			(2		)
Foreign government	521			25			—			89			(875		)	960		—		(409		)	—			311			5
Corporate	3,240			(90		)	—			464			(558		)	2,622		—		(1,942		)	(1,706		)	2,030			(28		)
Equity securities	244			(25		)	—			121			(47		)	231		—		(192		)	(68		)	264			(5		)
Asset-backed securities	5,801			503			—			222			(114		)	6,873		—		(7,823		)	(1,009		)	4,453			(173		)
Other trading assets	2,743			(8		)	—			1,126			(2,089		)	2,954		—		(2,092		)	(313		)	2,321			376
Total trading non-derivative assets	$	15,792		$	639		$	—		$	4,510		$	(5,240	)	$	17,079	$	79	$	(15,794	)	$	(3,242	)	$	13,823		$	158
Trading derivatives, net(4)
Interest rate contracts	726			(101		)	—			682			(438		)	311		—		(194		)	(805		)	181			(298		)
Foreign exchange contracts	(562		)	440			—			(1		)	25			196		—		(213		)	115			—			(190		)
Equity contracts	(1,737		)	326			—			(34		)	443			428		—		(657		)	(217		)	(1,448		)	(506		)
Commodity contracts	(934		)	145			—			(66		)	5			100		—		(89		)	68			(771		)	114
Credit derivatives	1,728			(2,355		)	—			32			(188		)	117		—		(11		)	335			(342		)	(692		)
Total trading derivatives, net(4)	$	(779	)	$	(1,545	)	$	—		$	613		$	(153	)	$	1,152	$	—	$	(1,164	)	$	(504	)	$	(2,380	)	$	(1,572	)
Investments
Mortgage-backed securities
U.S. government-sponsored agency guaranteed	$	679		$	—		$	7		$	894		$	(3,742	)	$	3,622	$	—	$	—		$	(2	)	$	1,458		$	43
Residential	8			—			6			205			(6		)	46		—		(54		)	—			205			—
Commercial	—			—			—			—			(11		)	11		—		—			—			—			—
Total investment mortgage-backed securities	$	687		$	—		$	13		$	1,099		$	(3,759	)	$	3,679	$	—	$	(54	)	$	(2	)	$	1,663		$	43
U.S. Treasury and federal agency securities	$	75		$	—		$	—		$	75		$	(150	)	$	12	$	—	$	—		$	—		$	12		$	—
State and municipal	667			—			12			129			(153		)	412		—		(218		)	—			849			(20		)
Foreign government	447			—			20			193			(297		)	519		—		(387		)	(112		)	383			1
Corporate	989			—			(6		)	68			(698		)	224		—		(144		)	(48		)	385			8
Equity securities	1,453			—			119			—			—			—		—		(308		)	(491		)	773			(34		)
Asset-backed securities	4,041			—			(98		)	—			(730		)	930		—		(77		)	(1,846		)	2,220			1
Other debt securities	120			—			(53		)	—			—			310		—		(118		)	(1		)	258			—
Non-marketable equity securities	8,318			—			453			—			—			1,266		—		(3,373		)	(1,300		)	5,364			313
Total investments	$	16,797		$	—		$	460		$	1,564		$	(5,787	)	$	7,352	$	—	$	(4,679	)	$	(3,800	)	$	11,907		$	312

			Net realized/unrealized gains (losses) incl. in						Transfers																		Unrealized
In millions of dollars	Dec. 31, 2011		Principal transactions			Other(1)(2)			into Level 3		out of Level 3			Purchases			Issuances		Sales			Settlements			Dec. 31, 2012		gains (losses) still held(3)
Loans	$	4,682	$	—		$	(34	)	$	1,051	$	(185	)	$	301		$	930	$	(251	)	$	(1,563	)	$	4,931	$	156
Mortgage servicing rights	2,569		—			(426		)	—		—			2			421		(5		)	(619		)	1,942		(427		)
Other financial assets measured on a recurring basis	2,245		—			366			21		(35		)	4			1,700		(50		)	(1,799		)	2,452		101
Liabilities
Interest-bearing deposits	$	431	$	—		$	(141	)	$	213	$	(36	)	$	—		$	268	$	—		$	(231	)	$	786	$	(414	)
Federal funds purchased and securities loaned or sold under agreements to repurchase	1,061		(64		)	—			—		(14		)	—			—		(179		)	(91		)	841		43
Trading account liabilities
Securities sold, not yet purchased	412		(1		)	—			294		(47		)	—			—		216			(511		)	365		(42		)
Short-term borrowings	499		(108		)	—			47		(20		)	—			268		—			(790		)	112		(57		)
Long-term debt	6,904		98			119			2,548		(2,694		)	—			2,480		—			(2,295		)	6,726		(688		)
Other financial liabilities measured on a recurring basis	3		—			(31		)	2		(2		)	(4		)	6		—			(12		)	24		(13		)

(2) Unrealized gains (losses) on MSRs are recorded in Other revenue on the Consolidated Statement of Income.

(4) Total Level 3 derivative assets and liabilities have been netted in these tables for presentation purposes only.

Significant valuation techniques and most significant unobservable inputs used in Level 3 fair value measurements

As of December 31, 2013	Fair Value(1) (in millions)		Methodology	Input	Low(2)(3)			High(2)(3)			Weighted Average(4)
Assets

Federal funds sold and securities borrowed or purchased under agreements to resell	$	3,299	Model-based	Interest rate	1.33		%	2.19		%	2.04		%

Mortgage-backed securities	$	2,869	Price-based	Price	$	0.10		$	117.78		$	77.60
	1,241		Yield analysis	Yield	0.03		%	21.80		%	8.66		%

State and municipal, foreign government, corporate and other debt securities	$	5,361	Price-based	Price	$	—		$	126.49		$	87.47
	2,014		Cash flow	Credit spread	11		bps	375		bps	213		bps

Equity securities(5)	$	947	Price-based	Price (5)	$	0.31		$	93.66		$	86.90
	827		Cash flow	Yield	4.00		%	5.00		%	4.50		%
				WAL	0.01		years	3.55		years	1.38		years

Asset-backed securities	$	4,539	Price-based	Price	$	—		$	135.83		$	70.89
	1,300		Model-based	Credit spread	25		bps	378		bps	302		bps

Non-marketable equity	$	2,324	Price-based	Fund NAV	$	612		$	336,559,340		$	124,080,454
	1,470		Comparables analysis	EBITDA multiples	4.20		x	16.90		x	9.78		x
	533		Cash flow	Discount to price	—		%	75.00		%	3.47		%
				Price-to-book ratio	0.90		x	1.05		x	1.02		x
				PE ratio	9.10		x	9.10		x	9.10		x

Derivatives—Gross(6)

Interest rate contracts (gross)	$	5,721	Model-based	Interest rate (IR) lognormal volatility	10.60		%	87.20		%	21.16		%

Foreign exchange contracts (gross)	$	1,727	Model-based	Foreign exchange (FX) volatility	1.00		%	28.00		%	13.45		%
	189		Cash flow	Interest rate	0.11		%	13.88		%	6.02		%
				IR-FX correlation	40.00		%	60.00		%	50.00		%
				IR-IR correlation	40.00		%	68.79		%	40.52		%
				Credit spread	25		bps	419		bps	162		bps

Equity contracts (gross)(7)	$	3,189	Model-based	Equity volatility	10.02		%	73.48		%	29.87		%
	563		Price-based	Equity forward	79.10		%	141.00		%	100.24		%
				Equity-equity correlation	(81.30		)%	99.40		%	48.45		%
				Equity-FX correlation	(70.00		)%	55.00		%	0.60		%
				Price	$	—		$	118.75		$	88.10

Commodity contracts (gross)	$	1,955	Model-based	Commodity volatility	4.00		%	146.00		%	15.00		%
				Commodity correlation	(75.00		)%	90.00		%	32.00		%
				Forward price	23.00		%	242.00		%	105.00		%

Credit derivatives (gross)	$	4,767	Model-based	Recovery rate	20.00		%	64.00		%	38.11		%
	1,520		Price-based	Credit correlation	5.00		%	95.00		%	47.43		%
				Price	$	0.02		$	115.20		$	29.83
				Credit spread	3		bps	1,335		bps	203		bps
				Upfront points	2.31			100.00			57.69

Nontrading derivatives and other financial assets and liabilities measured on a recurring basis (gross)(6)	$	82	Price-based	EBITDA multiples	5.20		x	12.60		x	12.08		x
	60		Comparables analysis	PE ratio	6.90		x	6.90		x	6.90		x
	38		Model-based	Price-to-book Ratio	1.05		x	1.05		x	1.05		x
				Price	$	0.00		$	105.10		$	71.25
				Fund NAV	$	1.00		$	10,688,600		$	9,706,488
				Discount to price	—		%	35.00		%	16.36		%

Loans	$	2,153	Price-based	Price	$	—		$	103.75		$	91.19
	1,422		Model-based	Yield	1.60		%	4.50		%	2.10		%
	549		Yield analysis	Credit spread	49		bps	1,600		bps	302		bps

Mortgage servicing rights	$	2,625	Cash flow	Yield	3.64		%	12.00		%	7.19		%
				WAL	2.27		years	9.44		years	6.12		years

Liabilities

Interest-bearing deposits	$	890	Model-based	Equity volatility	14.79		%	42.15		%	27.74		%
				Mean reversion	1.00		%	20.00		%	10.50		%
				Equity-IR correlation	9.00		%	20.50		%	19.81		%
				Forward price	23.00		%	242.00		%	105.00		%
				Commodity correlation	(75.00		)%	90.00		%	32.00		%
				Commodity volatility	4.00		%	146.00		%	15.00		%

Federal funds purchased and securities loaned or sold under agreements to repurchase	$	902	Model-based	Interest rate	0.47		%	3.66		%	2.71		%

Trading account liabilities

Securities sold, not yet purchased	$	289	Model-based	Credit spread	166		bps	180		bps	175		bps
	$	273	Price-based	Credit IR correlation	(68.00		)%	5.00		%	(50.00		)%
				Price	$	—		$	124.25		$	99.75

Short-term borrowings and long-term debt	$	5,957	Model-based	IR lognormal volatility	10.60		%	87.20		%	20.97		%
	868		Price-based	Equity forward	79.10		%	141.00		%	99.51		%
				Equity volatility	10.70		%	57.20		%	19.41		%
				Equity-FX correlation	(70.00		)%	55.00		%	0.60		%
				Equity-equity correlation	(81.30		)%	99.40		%	48.30		%
				Interest rate	4.00		%	10.00		%	5.00		%
				Price	$	0.63		$	103.75		$	80.73

(1) The fair value amounts presented in this table represent the primary valuation technique or techniques for each class of assets or liabilities.

(2) Some inputs are shown as zero due to rounding.

(3) When the low and high inputs are the same, there is either a constant input applied to all positions, or the methodology involving the input applies to one large position only.

(4) Where provided, weighted averages are calculated based on the fair value of the instrument.

(5) For equity securities, the price input is expressed on an absolute basis, not as a percentage of the notional amount.

(6) Both trading and nontrading account derivatives—assets and liabilities—are presented on a gross absolute value basis.

(7) Includes hybrid products.

As of December 31, 2012	Fair Value(1) (in millions)		Methodology	Input	Low(2)(3)			High(2)(3)
Assets

Federal funds sold and securities borrowed or purchased under agreements to resell	$	4,786	Cash flow	Interest rate	1.09		%	1.50		%

Trading and investment securities

Mortgage-backed securities	$	4,402	Price-based	Price	$	—		$	135.00
	1,148		Yield analysis	Yield	—		%	25.84		%
				Prepayment period	2.16		years	7.84		years

State and municipal, foreign government, corporate and other debt securities	$	4,416	Price-based	Price	$	0.00		$	159.63
	1,231		Cash flow	Yield	0.00		%	30.00		%
	787		Yield analysis	Credit spread	35		bps	300		bps

Equity securities	$	792	Cash flow	Yield	9.00		%	10.00		%
	147		Price-based	Prepayment period	3		years	3		years
				Price	$	0.00		$	750.00

Asset-backed securities	$	4,253	Price-based	Price	$	—		$	137
	1,775		Internal model	Yield	—		%	27.00		%
	561		Cash flow	Credit correlation	15.00		%	90.00		%
				Weighted average life (WAL)	0.34		years	16.07		years

Non-marketable equity	$	2,768	Price-based	Fund NAV	$	1.00		$	456,773,838
	1,803		Comparables analysis	EBITDA multiples	4.70		x	14.39		x
				Price-to-book ratio	0.77		x	1.50		x
	709		Cash flow	Discount to price	—		%	75.00		%

Derivatives—Gross (4)

Interest rate contracts (gross)	$	3,202	Internal model	Interest rate (IR)-IR correlation	(98.00		)%	90.00		%
				Credit spread	0		bps	550.27		bps
				IR volatility	0.09		%	100.00		%
				Interest rate	—		%	15.00		%

Foreign exchange contracts (gross)	$	1,542	Internal model	Foreign exchange (FX) volatility	3.20		%	67.35		%
				IR-FX correlation	40.00		%	60.00		%
				Credit spread	0		bps	376		bps

Equity contracts (gross) (5)	$	4,669	Internal model	Equity volatility	1.00		%	185.20		%
				Equity forward	74.94		%	132.70		%
				Equity-equity correlation	1.00		%	99.90		%

Commodity contracts (gross)	$	2,160	Internal model	Forward price	37.45		%	181.50		%
				Commodity correlation	(77.00		)%	95.00		%
				Commodity volatility	5.00		%	148.00		%

Credit derivatives (gross)	$	4,777	Internal model	Price	$	0.00		$	121.16
	3,886		Price-based	Recovery rate	6.50		%	78.00		%
				Credit correlation	5.00		%	99.00		%
				Credit spread	0		bps	2,236		bps
				Upfront points	3.62			100.00

Nontrading derivatives and other financial assets and liabilities measured on a recurring basis (gross) (4)	$	2,000	External model	Price	$	100.00		$	100.00
	461		Internal model	Redemption rate	30.79		%	99.50		%

Loans	$	2,447	Price-based	Price	$	0.00		$	103.32
	1,423		Yield analysis	Credit spread	55		bps	600.19		bps
	888		Internal model

Mortgage servicing rights	$	1,858	Cash flow	Yield	—		%	53.19		%
				Prepayment period	2.16		years	7.84		years

Liabilities

Interest-bearing deposits	$	785	Internal model	Equity volatility	11.13		%	86.10		%
				Forward price	67.80		%	182.00		%
				Commodity correlation	(76.00		)%	95.00		%
				Commodity volatility	5.00		%	148.00		%

Federal funds purchased and securities loaned or sold under agreements to repurchase	$	841	Internal model	Interest rate	0.33		%	4.91		%

Trading account liabilities

Securities sold, not yet purchased	$	265	Internal model	Price	$	0.00		$	166.47
	75		Price-based

Short-term borrowings and long-term debt	$	5,067	Internal model	Price	$	0.00		$	121.16
	1,112		Price-based	Equity volatility	12.40		%	185.20		%
	649		Yield analysis	Equity forward	75.40		%	132.70		%
				Equity-equity correlation	1.00		%	99.90		%
				Equity-FX correlation	(80.50		)%	50.40		%

(1) The fair value amounts presented in this table represent the primary valuation technique or techniques for each class of assets or liabilities.

(2) Some inputs are shown as zero due to rounding.

(3) When the low and high inputs are the same, there is either a constant input applied to all positions, or the methodology involving the input applies to one large position only.

(4) Both trading and nontrading account—derivatives assets and liabilities—are presented on a gross absolute value basis.

(5) Includes hybrid products.

Items measured at fair value of a nonrecurring basis

In millions of dollars	Fair value		Level 2		Level 3
December 31, 2013
Loans held-for-sale	$	3,483	$	2,165	$	1,318
Other real estate owned	138		15		123
Loans(1)	4,713		3,947		766
Total assets at fair value on a nonrecurring basis	$	8,334	$	6,127	$	2,207

(1) Represents impaired loans held for investment whose carrying amount is based on the fair value of the underlying collateral, including primarily real-estate secured loans.

In millions of dollars	Fair value		Level 2		Level 3
December 31, 2012
Loans held-for-sale	$	2,647	$	1,159	$	1,488
Other real estate owned	201		22		179
Loans(1)	5,732		5,160		572
Other assets(2)	4,725		4,725		—
Total assets at fair value on a nonrecurring basis	$	13,305	$	11,066	$	2,239

(1) Represents impaired loans held for investment whose carrying amount is based on the fair value of the underlying collateral, including primarily real-estate secured loans.

(2) Represents Citi’s then-remaining 35% investment in the Morgan Stanley Smith Barney joint venture whose carrying amount was the agreed purchase price. See Note 14 to the Consolidated Financial Statements.

Valuation techniques and inputs for Level 3 nonrecurring fair value measurements

As of December 31, 2013	Fair Value(1) (in millions)		Methodology	Input	Low			High			Weighted average(2)
Loans held-for-sale	$	912	Price-based	Price	$	60.00		$	100.00		$	98.77
	393		Cash flow	Credit spread	45		bps	80		bps	64		bps

Other real estate owned	$	98	Price-based	Discount to price	24.00		%	59.00		%	32.22		%
	17		Cash flow	Price	$	60.46		$	100.00		$	96.67
				Appraised value	$	636,249		$	15,897,503		$	11,392,478

Loans(3)	$	581	Price-based	Discount to price	24.00		%	34.00		%	26.48		%
	109		Model-based	Price	$	52.40		$	68.39		$	65.32
				Appraised value	$	6,500,000		$	86,000,000		$	43,532,719

(1) The fair value amounts presented in this table represent the primary valuation technique or techniques for each class of assets or liabilities.

(2) Weighted averages are calculated based on the fair value of the instrument.

(3) Represents loans held for investment whose carrying amounts are based on the fair value of the underlying collateral.

As of December 31, 2012	Fair Value(1) (in millions)		Methodology	Input	Low			High
Loans held-for-sale	$	747	Price-based	Price	$	63.42		$	100.00
	485		External model	Credit spread	40		bps	40		bps
	174		Recovery analysis

Other real estate owned	$	165	Price-based	Discount to price	11.00		%	50.00		%
				Price(2)	$	39,774		$	15,457,452

Loans(3)	$	351	Price-based	Discount to price	25.00		%	34.00		%
	111		Internal model	Price(2)	$	6,272,242		$	86,200,000
				Discount rate	6.00		%	16.49		%

(1) The fair value amounts presented in this table represent the primary valuation technique or techniques for each class of assets or liabilities.

(2) Prices are based on appraised values.

(3) Represents loans held for investment whose carrying amounts are based on the fair value of the underlying collateral.

Changes in total nonrecurring fair value measurements

In millions of dollars	Year ended December 31, 2013
Loans held-for-sale	$	—
Other real estate owned	(6		)
Loans(1)	(761		)
Total nonrecurring fair value gains (losses)	$	(767	)

(1) Represents loans held for investment whose carrying amount is based on the fair value of the underlying collateral, including primarily real-estate loans.

In millions of dollars	Year ended December 31, 2012
Loans held-for-sale	$	(19	)
Other real estate owned	(29		)
Loans(1)	(1,489		)
Other assets(2)	(3,340		)
Total nonrecurring fair value gains (losses)	$	(4,877	)

(1) Represents loans held for investment whose carrying amount is based on the fair value of the underlying collateral, including primarily real-estate loans.

(2) The 12 months ended December 31, 2012 includes the recognition of a $3,340 million impairment charge related to the carrying value of Citi’s then-remaining 35% interest in MSSB. See Note 14 to the Consolidated Financial Statements.

Estimated Fair Value of Financial Instruments

December 31, 2013

Estimated fair value

Carrying

Estimated

In billions of dollars

value

fair value

Level 1

Level 2

Level 3

Assets

Investments

17.8

18.2

5.3

11.9

1.0

Federal funds sold and securities borrowed or purchased under agreements to resell

115.6

—

105.5

10.1

Loans(1)(2)

637.9

635.1

—

5.6

629.5

Other financial assets(2)(3)

254.2

9.4

191.7

53.1

Liabilities

Deposits

966.6

965.6

—

776.4

189.2

Federal funds purchased and securities loaned or sold under agreements to repurchase

152.0

—

147.1

4.9

Long-term debt(4)

194.2

201.3

—

175.6

25.7

Other financial liabilities(5)

136.2

—

41.2

95.0

	December 31, 2012				Estimated fair value
	Carrying		Estimated
In billions of dollars	value		fair value		Level 1		Level 2		Level 3
Assets
Investments	$	17.9	$	18.4	$	3.0	$	14.3	$	1.1
Federal funds sold and securities borrowed or purchased under agreements to resell	100.7		100.7		—		94.8		5.9
Loans(1)(2)	621.9		612.2		—		4.2		608.0
Other financial assets(2)(3)	192.8		192.8		11.4		128.3		53.1

Liabilities
Deposits	$	929.1	$	927.4	$	—	$	748.7	$	178.7
Federal funds purchased and securities loaned or sold under agreements to repurchase	94.5		94.5		—		94.4		0.1
Long-term debt(4)	209.7		215.3		—		177.0		38.3
Other financial liabilities(5)	139.0		139.0		—		42.2		96.8

(1) The carrying value of loans is net of the Allowance for loan losses of $19.6 billion for December 31, 2013 and $25.5 billion for December 31, 2012. In addition, the carrying values exclude $2.9 billion and $2.8 billion of lease finance receivables at December 31, 2013 and December 31, 2012, respectively.

(2) Includes items measured at fair value on a nonrecurring basis.

(3) Includes cash and due from banks, deposits with banks, brokerage receivables, reinsurance recoverable and other financial instruments included in Other assets on the Consolidated Balance Sheet, for all of which the carrying value is a reasonable estimate of fair value.

(4) The carrying value includes long-term debt balances under qualifying fair value hedges.

(5) Includes brokerage payables, separate and variable accounts, short-term borrowings (carried at cost) and other financial instruments included in Other liabilities on the Consolidated Balance Sheet, for all of which the carrying value is a reasonable estimate of fair value.